According to new report published by Grand View Research, the global human milk oligosaccharides market is expected to reach $170.4 million by 2024. Increasing adoption of nutritious food owing to rise in health awareness is likely to drive market in the coming years.

According to a report by Grand View Research, Inc.; the global human milk oligosaccharides (HMOs) market is anticipated to reach USD 170.4 million by 2024. HMO is considered as one of the best alternatives for non-lactating mothers owing to its nutritious value essential for the growth of infants. Most manufacturing companies are using various fermentation processes and chemical synthesis to manufacture effective HMOs to cater to rising demand.

Growing adoption of dietary supplements to attain healthy lifestyle is likely to drive growth of the market in the coming years. Increase in infant mortality rate owing to insufficiency of essential enzymes in human milk can augment market growth over the forecast period (2013 to 2024). Rising necessity for human milk oligosaccharides (HMOs) to prevent and cure infants from harmful health disorders can foster growth of the market. High demand for HMO in medicinal supplements owing to its antimicrobial protection and prebiotic effects can further fuel the market. Increasing adoption of nutritious food owing to rise in health awareness is likely to drive market in the coming years.

For instance, Nestle is the first company to develop an infant formula containing two human milk human milk oligosaccharide (HMO) molecules. European food safety authority (EFSA) has already evaluated the formula and food and drug administration (FDA) has approved it. According to clinical research, the formula is likely to induce adequate growth in infants. It can also support in developing gut flora of infants getting HMOs, similar to babies on breastfeeding.

However, stringent government regulations to limit use of HMOs as infant food may restrict market growth in the coming years. In addition, high production cost involved in fermentation processes and use of complex technology can create obstruction in growth of this market. Moreover, high R&D cost coupled with lack of technical expertise can also impede market growth during the forecast period.

Nevertheless, focus on development of cost-effective production techniques by most manufacturing companies coupled with wide scope for improvement in HMOs are expected to create lucrative opportunities in the market.

The human milk oligosaccharides market is bifurcated on the basis of applications and regions. Based on applications, the market is segmented into functional food & beverages, infant formula, and food supplements. Based on region, the market is split into North America, Europe, Asia Pacific, Latin America, and MEA.

In the global arena, Europe dominated the market by attaining maximum volume share of 30% in the year 2015. High demand for infant formulas and increasing number of manufacturers are likely to impel market growth in the region. In addition, growing need for dairy products in the region can foster growth in the market. Moreover, rising demand for functional food products in the region including yogurt and energy drinks are likely to bode well for market growth.

In Asia Pacific, the market is anticipated to showcase a CAGR of 10% over the forecast period owing to rising awareness related to chronic diseases such as diabetes, rickets, and high blood pressure. In addition, growing need for dietary supplements in the region can impel market in near future. Moreover, high disposable income and rising awareness level of the middle class population regarding health disorders can bode well for regional growth in the forthcoming years.

In North America, growing number of HMO manufacturers and rising adoption of formulated milk is expected to propel the regional market over the forecast period.

Some of the prominent players operating in the human milk oligosaccharides (HMO) market are Medolac Laboratories, ZuChem, Elicityl SA, Inbiose, and Jennewein Biotechnologie. There is a limited number of manufacturing companies dealing in HMOs making this market quite consolidated. To survive the competition, market players are adopting innovative strategies and technologies to reduce the production cost. Cost cutting and technological advancements across the market are likely to attract investors during the forecast period. For instance, Inbiose uses fermentation to produce human milk oligosaccharides, which is quite economical method in comparison to enzymatic and chemical synthesis.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.